Quote:
Originally Posted by Appropriate
If you think interest rates will be going up, and you can already get 4%, it doesn't make any sense to only take a 3 year loan... take a 4 or 5 year one.
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I agree. It really doesn't make sense to do a 3 year loan because you can pay off the 5 year loan in 3 years. There's no pre-payment penalty. Stretching it out to 5 years gives you the flexibility of a lower payment if something happens.
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